MitonOptimal International, a Guernsey-headquartered discretionary fund management company, has agreed to buy Orchard Wealth Management in Jersey, after receiving regulatory approval from the Jersey Financial Services Commission.
Orchard Wealth Management is led by fund manager Richard Harwood, who will be joining the MitonOptimal Group board of directors. Mr Harwood manages the Orchard Fund, a sub-fund of Orchard Funds; a Dublin listed UCITS.
“We have invested with Richard and watched his progress for a number of years now. The benefits of joining our businesses together, particularly with our Dublin fund focus, and partnering with the MitonOptimal team to further develop our Jersey discretionary fund management (DFM) services make sense,” said Scott Campbell, group managing director and chief investment officer at MitonOptimal.
The MitonOptimal group of companies is an independent multi-asset investment manager, majority owned by its management and directors. It employs over 70 staff across offices in Guernsey, South Africa, United Kingdom, Isle of Man and Singapore, and has combined assets under management of approximately £880 million.